Finalaya daily wrap_05mar2014

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Continuing previous session’s momentum, Indian equity indices opened gap up on positive global cues. Sensex touched a high in excess of 21330 in morning deals. The benchmarks, later pared the gains amidst Election Commission announcement for Lok Sabha (LS) poll dates. The LS elections will be conducted in 9 phases between April 7 to May 12 and results will be declared on May 16. Rate sensitive counters Realty, Banking and Capital Goods fueled the northbound movement during post noon session but the gains remained capped as services sector continued to be on contraction mode for eighth straight month as evinced from PMI numbers. HSBC Services Business Activity Index grew modestly to 48.8 in February from 48.3 in the previous month while remaining below 50, separator between growth & contraction, for 8-months. Nifty rallied 0.49% with Bank of Baroda (up 6.3%) being the rock star for the index.

Markets continue winning streak amid India setting dates for LS polls Market Snapshot | 05-03-2014 04:22 PM Continuing previous session’s momentum, Indian equity indices opened gap up on positive global cues. Sensex touched a high in excess of 21330 in morning deals. The benchmarks, later pared the gains amidst Election Commission announcement for Lok Sabha (LS) poll dates. The LS elections will be conducted in 9 phases between April 7 to May 12 and results will be declared on May 16. Rate sensitive counters Realty, Banking and Capital Goods fueled the northbound movement during post noon session but the gains remained capped as services sector continued to be on contraction mode for eighth straight month as evinced from PMI numbers. HSBC Services Business Activity Index grew modestly to 48.8 in February from 48.3 in the previous month while remaining below 50, separator between growth & contraction, for 8-months. Nifty rallied 0.49% with Bank of Baroda (up 6.3%) being the rock star for the index. On global front, easing Ukraine-Russia tensions persuaded S&P 500 to close at a record high level by gaining 1.5%. Other US indices and most of the Asian indices also cheered the Ukraine development. European markets were trading in red. Back home, the market breadth on the BSE closed in positive. Advancing and declining stocks were 1557 and 1224 respectively, while 168 scrips remained unmoved. The S&P BSE Sensex ended at 21276.86, up 67.13 points or 0.32%. The 30 share index touched a high and a low of 21333.20 and 21176.16 respectively. 17 stocks advanced against 13 declining ones on the benchmark index. The CNX Nifty gained 30.70 points or 0.49% to settle at 6328.65. The index touched high and low of 6336.25 and 6287.80 respectively. 31 stocks advanced against 19 declining ones on the index. S&P BSE Sensex CNX Nifty The S&P BSE Mid-cap index moved up to 6627.51 and gained 0.94% while S&P BSE Small-cap index jumped up by 0.47% to 6546.44. The broader S&P BSE 500 index increased to 7789.70 (up 0.50%) and CNX 500 index rose to 4900.85 (up 0.57%). The volatility as denoted by INDIA VIX lost 3.82% at 13.84 from its previous close of 14.39 on Tuesday. Sectors in action On the BSE Sectorial front, Real Estate (up 1.95%), Banks (up 1.47%) and Capital Goods (up 1.13%) were the top gainers. Consumer Durables (down 2.36%), Automobile (down 0.23%) and Oil & Gas (down 0.15%) were the top losers. The Angels and the Devils ICICI Bank (up 2.70%), Coal India Ltd (up 1.74%), Cipla Ltd (up 1.72%), State Bank of India (up 1.54%) and Maruti Suzuki India Ltd (up 1.51%) were the top gainers on the Sensex. Tata Power Company Ltd (down 3.25%), Bharti Airtel Ltd (down 1.67%), GAIL (India) Ltd (down 1.21%), Reliance Industries Ltd (down 0.95%) and Tata Motors Ltd (down 0.75%) were the top losers on the Sensex. Benchmark Drivers ICICI Bank (38.64 points), Reliance Industries Ltd (-15.87 points), Oil and Natural Gas Corporation Ltd (8.83 points), Infosys Ltd (8.72 points) and ITC Ltd (8.70 points) were the major Sensex drivers today. On the other end ICICI Bank (10.14 points), Infosys Ltd (3.14 points), Reliance Industries Ltd (-3.07 points), ITC Ltd (2.66 points) and State Bank of India (2.34 points) were the major Nifty movers today.

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